Where’s the Bitcoin bottom? This is a billion-dollar question that many investors ask themselves. Several indicators point to a possible bottom soon, so let’s find out where that might be through a multi-timeframe analysis.
Bitcoin analysis – monthly
Let’s start with a monthly timeframe to get the best perspective of where Bitcoin might go in the future. This chart clearly shows the potential bottom area. It’s a little below the all-time high (ATH) level from 2017, between $14,000 and $20,000. As Fed is expected to raise interest rates even more, a new low could be created in the next few months.
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However, if Bitcoin goes below $14,000, it could mean a serious threat to the whole crypto industry. The two last most significant bear markets took place in 2014 and 2018. Both times, Bitcoin fell by approximately 80% and the price decline lasted about a year.